Accrington chairman to dispose of his shares

Accrington chairman Ilyas Khan intends to donate his own shareholding in the club in three years time.
Stanley launched a scheme two weeks ago to sell 10,000 shares in small amounts over the next three years, with Khan insisting the early take-up has been "wonderfully gratifying".

Khan, currently the League Two club`s majority shareholder and debt provider, intends to hand over his 42% holding fairly between fellow shareholders at the end of the scheme.

And in part of a statement on the club`s official website, he said: "I am doing this is to ensure that control of the club becomes as diverse as possible - while this won't guarantee that we won't run out of money in future, it will mean we can reach a healthier position with our roots inside the community, as well as creating a `rainy day' buffer.

"I am also doing this to reward current shareholders by increasing their holdings. I have long maintained that my own interest as custodian of the club has a lot more to do with my love for our town and our club together, and not at all from a business standpoint. By giving away my shares, as originally committed, I will fulfil a promise made in October 2009.

"If our share issue is successful over three years, we can also then turn our attention towards a possible new home. This will all take time and a huge amount of support and goodwill from our council, but I hope that by becoming a credible partner in financial terms we can put the building blocks in place for a serious plan to evolve."